Benzinga – iComply A Top RegTech Solution

Benzinga – iComply A Top RegTech Solution

Benzinga – iComply A Top RegTech Solution

iComply was named a top RegTech solution by Benzinga Global FinTech Awards. The award was announced on May 16 in New York City during the peak of the “NYC Blockchain Week”.

The Benzinga FinTech Awards celebrates leading innovations in Fintech and RegTech across the world. It recognizes winners in a variety of categories including “Best Alternative Investments Platform,” “Best Customer Engagement Tool,” “Best Insuretech Solution” and more.

“We are excited to receive this recognition from Benzinga as an industry leading RegTech company, beating much more established KYC providers such as Jumio, BigID, and Trulioo. While these companies have been in the market much longer, our iComplyKYC product is focused directly on the specific risks associated with cryptocurrency transactions. In only a few short months since our product release, iComplyKYC is recognized as the industry best practice for cryptocurrency exchanges, token launch platforms, and leading securities law firms and risk advisors around the world.” said Matthew Unger, CEO of iComply Investor Services.

At present, iComplyKYC is available as a private white label solution and is currently being used by a number of FinTech platforms, initial coin offerings, licensed Canadian and U.S.broker-dealer and portfolio management firms, cryptocurrency exchanges, and capital markets advisory firms. The company is continuously enhancing the solution with additional layers of verification being released, including:

  • Accredited Investor Verification
  • Global Business Verification
  • Legal Entity Identification
  • Anti-Money Laundering
  • Sanctions & Watchlist Screening
  • Machine Vision Liveness Detection
  • Cryptocurrency Wallet Risk Monitoring
  • Blockchain Forensics
  • Credit Bureau Verification
  • Wallet Ownership Verification.

We see the iComplyKYC product as critical infrastructure to enable institutional investment to access digital finance.

“When we entered the market with our first product – a regulatory service for blockchains that uses Prefacto technology to apply real-time compliance and governance procedures for the offering and secondary trading of tokenized assets – we discovered that many of the KYC and digital identity providers were too expensive and most are barely more than a camera phone app with a dashboard on the back end. Right now, if an token issuer or cryptocurrency exchange were to be audited by Fintrac, Fincen, European Commission or OFSE they would have a harsh awakening when they realize that the term “KYC” is not standardized across the industry – many of the largest providers do no OFAC screening, most only call a single national PEP list for the USA, and none offer comprehensive risk reporting on cryptocurrency wallets or source of funds. We saw this gap as an opportunity to apply the best practices of traditional sanction screening, anti money laundering and anti-terrorist financing to the decentralized financial markets,” added Unger.

The team at iComply is pleased to receive this recognition and looks forward to continued success as we continue to grow our team, product and customer base.

Looking for an end-to-end token management studio?

iComply’s token compliance platform, Prefacto enables issuers to capture the value of blockchain asset management with multi-jurisdictional compliance automation for over 150 countries.

Book a demo with one of our specialists to learn more.

About iComply Investor Services Inc.
iComply Investor Services Inc. (iComply) is an award-winning software company focused on reducing regulatory friction in the capital markets. With powerful data, verification, tokenization solutions, iComply helps companies overcome the cost and complexity of multi-jurisdictional compliance to effectively access new markets. Learn more: iComplyIS.com

Jeff Bandman

Jeff Bandman

Jeff Bandman

Jeff Bandman is the founder and principal of Bandman Advisors, an advisory practice that helps clients ranging from startups to global firms meet their strategic innovation and regulatory challenges. Bandman Advisors bridges the gap between business and regulation.

Jeff is a research fellow of the Blockchain for Algorithmic Regulation and Compliance (BARAC) initiative at University College London’s Centre for Blockchain Technologies, serves on the Board of Advisors of Templum Inc., and acts as a fintech regulation mentor for the Techstars Barclays FinTech Accelerator program.

Previously, Jeff was a senior official at the U.S. Commodity Futures Trading Commission from 2014-2017. As Fintech Advisor to Chairman J. Christopher Giancarlo, he was Founding Director and Architect of LabCFTC, the CFTC’s hub for engagement with fintech innovation (the first launched by a U.S. market regulator). He established and chaired the CFTC blockchain, a virtual currencies and fintech working group, from inception in 2015. Jeff led fintech and regtech coordination with domestic and international regulators and led an international regulator work stream on post-trade digital innovation. He previously led the CFTC’s Division of Clearing and Risk, which oversees many of the world’s largest clearinghouses, and also led the negotiations resulting in “Clearinghouse Equivalence” with the European Commission. He joined the CFTC as Special Counsel to Chairman Timothy Massad and led the CFTC’s Office of International Affairs.

Jeff worked for many years in the financial industry in New York and London. As Head of Partnerships & Alliances of LCH’s SwapClear, he helped design and launch the SwapClear “FCM service” for clearing interest rate swaps through U.S. intermediaries. He also devised the innovative CCP Squared partnership program and led the award-winning SMART margin simulator. Jeff earlier worked on a variety of new market structure and fintech initiatives, including LiquidityHub and the Project Rainbow consortium. Before that, he rebuilt Cantor Fitzgerald’s market data business after the events of September 11th, 2001.

Jeff started his career as an associate at Cravath, Swaine & Moore in New York and was America’s General Counsel for Prebon Yamane, now part of the ICAP group. He graduated from Yale magna cum laude (honours in History and English) and from Stanford Law School (honours as a member of the “Order of the Coif”). He is a five-time Jeopardy! Champion and spent his winnings backpacking around Africa, Asia, and Europe.

Praveen Mandal

Praveen Mandal

Praveen Mandal

A serial entrepreneur, Praveen has been involved with and influential in the founding of five successful startups, most notably serving as CEO of Pipal Systems and president of ChargePoint. He is currently an MIT Connection Science Fellow.

Praveen has held senior R&D executive positions at Riverstone Networks, Lucent Technologies, and SGI. He is a seasoned technology and operating executive whose teams have developed industry-recognized, market-leading technologies and solutions in telecom, clean-tech and high-performance computer industries. Examples of projects directly impacted by his teams include using supercomputers to generate black hole simulations and violent weather forecasts, Electric Vehicle (EV) Charging Infrastructure, and DSL broadband access.

He is named co-inventor on 10 patents and holds a Bachelor of Science degree in Computer Engineering from Santa Clara University.

Praveen is passionate about partnering with other inspirational entrepreneurs to inspire and support their work, especially in the fields of AI and blockchain technologies, in a concentrated effort to transform and impact many industries. He also serves as an active board member and advisor to 7 startups and 2 universities.

Manny Alicandro, ESQ

Manny Alicandro, ESQ

Manny Alicandro, ESQ

Manny Alicandro currently serves as General Counsel at MANA Partners in New York City. Prior to this role, he worked as the Executor Director of JPMorgan Chase.

Alicandro boasts an impressive resume in compliance and financial services, including leadership of PwC’s Financial Services Risk and Regulatory Practice, General Counsel at MANA Partners, Former Assistant General Counsel and President of BOX Regulation, NASDAQ, and multiple compliance and regulatory leadership roles at FINRA.

He also worked closely on the development of the SEC’s Consolidated Audit Trail or “CAT,” one of the world’s largest data repositories that is slated to contain a complete record of all equities, options, and securities traded in the U.S.